The 2013 Executive Budget Document
The College of William and Mary in Virginia [ http://www.wm.edu/ ]Mission Statement
The College of William and Mary in Virginia provides a broad liberal education in a stimulating academic environment enhanced by a talented and diverse student body. Effective instruction encourages the intellectual development of both student and teacher. Quality research supports the educational program by introducing students to the challenge and excitement of original discovery, and is a source of the knowledge and understanding required for societal improvement. Through public and community service, the university fulfills its responsibility to the Commonwealth’s citizens as well as to the national and international communities.Operating Budget Summary
|General Fund||Nongeneral Fund||Personnel Cost|
|2009 Appropriation||$ 48,940,692||$ 191,114,783||$ 133,020,051|
|2010 Appropriation||$ 43,638,305||$ 192,982,313||$ 138,465,771|
|2011 Appropriation||$ 42,893,893||$ 220,869,201||$ 150,014,165|
|2012 Appropriation||$ 39,161,091||$ 214,107,042||$ 144,715,816|
|2013 Addenda||$ 40,663,169||$ 232,587,852||$ 146,451,140|
|2013 Addenda||$ 0||$ 11,717,204||$ 6,880,514|
|2013 Total||$ 40,663,169||$ 244,305,056||$ 153,331,654|
|2014 Addenda||$ 41,357,939||$ 233,522,067||$ 146,451,140|
|2014 Addenda||$ 296,003||$ 13,077,680||$ 6,880,514|
|2014 Total||$ 41,653,942||$ 246,599,747||$ 153,331,654|
|General Fund||Nongeneral Fund||Total Positions|
Capital Totals for the Biennium
|$ 0||$ 0||$ 27,650,000|
Recommended Operating Budget Addenda
Increase nongeneral fund appropriation to support student financial assistanceIncreases the institution's budget to reflect additional undergraduate and graduate financial aid approved by the Board of Visitors.
FY 2013 FY 2014 Nongeneral Fund $ 3,500,000 $ 3,500,000
Increase nongeneral fund appropriation to reflect increased debt service payments for auxiliary services capital projects funded by specific student fee revenueAdjusts the appropriation needed to pay debt service associated with the institution's dormitory and student union renovations.
FY 2013 FY 2014 Nongeneral Fund $ 1,307,385 $ 2,667,861
Provide assistance for the general fund portion of agency Line of Duty Act costsProvides additional funding to cover the general fund share of Line of Duty Act costs for state agencies.
FY 2013 FY 2014 General Fund $ 0 $ 2,112
Increase nongeneral fund appropriation to reflect increased revenue resulting from license platesAdjusts the appropriation supporting undergraduate student financial aid to reflect increased license plate revenues.
FY 2013 FY 2014 Nongeneral Fund $ 9,713 $ 9,713
Increase nongeneral fund appropriation to accurately reflect tuition and fee revenueIncreases appropriation to reflect the budget approved by the Board of Visitors to support the institution's educational and general programs.
FY 2013 FY 2014 Nongeneral Fund $ 6,900,106 $ 6,900,106
Provide support to higher education institutions to achieve the goals of the Virginia Higher Education Opportunity Act of 2011Provides funding to higher education institutions in support of achieving the goals of the Virginia Higher Education Opportunity Act of 2011 (Top Jobs Act). The Top Jobs Act strives to incentivize higher education institutions to educate and graduate more Virginians, while encouraging more graduates in the sciences, technology, engineering, math, and health care fields, as well as supporting underrepresented students to graduate from higher education institutions. The goal is to achieve 100,000 additional undergraduate degrees by 2025 in order to keep the Commonwealth economically competitive, both nationally and internationally. The funding is also intended to slow the rising costs of tuition and fees in order to keep higher education both affordable and accessible.
FY 2013 FY 2014 General Fund $ 0 $ 293,891
Recommended Capital Budget Addenda
Renovate DormitoriesProvides additional support for exterior and interior repairs to the institution's dormitories to ensure a safe and operational housing environment. The project will be funded from the issuance of 9(c) revenue bonds.
FY 2013 FY 2014 Bond Proceeds $ 0 $ 9,650,000